Convert
Indian Rupee (INR) to Biswap (BSW) Instantly

Frequently Asked Questions

What is the primary method to buy Biswap (BSW) with Indian Rupees (INR)?

Typically, there isn't a direct INR/BSW trading pair on major exchanges. The common process involves using a compliant Indian cryptocurrency exchange as a fiat on-ramp. Users deposit INR via methods like UPI or bank transfer to buy a base cryptocurrency, usually BNB or a stablecoin like USDT, on the BNB Smart Chain (BSC). This digital asset is then transferred to a self-custodial digital wallet (e.g., MetaMask), which can connect to the Biswap decentralized exchange (DEX) to swap for BSW, a BEP-20 token.

What are the typical fees involved in the entire INR to BSW transaction process?

The process involves multiple stages, each with potential fees: 1) Fiat Gateway Fee: A fee from the Indian exchange for depositing INR via UPI or bank transfer. 2) Trading Fee: A small percentage fee on the initial purchase of BNB/USDT. 3) Withdrawal Fee: A network fee to move your crypto from the exchange to your personal digital wallet. 4) BNB Gas Fee: A network fee paid in BNB for executing the swap smart contract on the BNB Smart Chain. 5) Biswap DEX Fee: Biswap charges a low trading fee (e.g., 0.1% - 0.2%) for the swap, part of which may be returned to liquidity providers.

What are the benefits of holding BSW tokens after converting from INR?

Holding BSW tokens provides access to the Biswap ecosystem's features. Key utilities include staking BSW in launchpools to earn other tokens, providing liquidity to trading pairs for yield farming rewards, and participating in the platform's Multi-Type Referral Program. The BSW token is central to the platform's incentive structure on the BNB Smart Chain, designed to reward active participants of the decentralized exchange.

What is the function of Biswap as a Decentralized Exchange (DEX) in the INR to BSW conversion process?

Biswap operates as an Automated Market Maker (AMM) on the BNB Smart Chain. After you've converted your INR to a BEP-20 compatible asset (like BNB or BUSD), you use Biswap to perform the final swap. Instead of a traditional order book, Biswap uses liquidity pools to facilitate trades. It's known for its low transaction fees, and the BSW token itself has utility within the platform, such as for yield farming and staking.

Why is a self-custody digital wallet necessary for acquiring BSW on a DEX?

A self-custody wallet (like MetaMask or Trust Wallet) gives you direct control over your private keys and digital assets. Decentralized exchanges like Biswap are non-custodial and require you to connect your wallet to interact with their smart contracts on the BNB Smart Chain. This is different from a centralized exchange, which holds your assets for you. Self-custody is essential for decentralized finance (DeFi) participation and provides greater security and autonomy over your BEP-20 tokens.

What are key security practices for handling the INR to BSW conversion and holding?

First, use a reputable Indian crypto exchange that follows strict KYC/AML compliance for your initial INR deposit. When setting up your self-custody digital wallet, securely store your seed phrase offline and never share it. When interacting with the Biswap DEX, always double-check the URL to avoid phishing sites. Finally, before approving any transaction or smart contract interaction, verify the contract address and understand the permissions you are granting to ensure the security of your digital assets.